The paper examined the relationship between corporate governance and information disclosure on one hand, and the effect of disclosure on the financial performance of elected listed companies in Nigerian Securities and Exchange (NSE commission). Variables employed for the study included: board composition and size, disclosure index and leadership structure, return on assets(ROA) return on equity(ROE). Random sampling was used to select 58 listed companies for which time series and cross sectional data were collected for a period of five years, comprising analyses of 290 financial statements from NSEand firms websites. Panel regression analysis method was used to validate data and diagonistic tests were carried out using Hausman and Wald specifications. Findings revealed positive relationships between information disclosure and financial performance proxied by return on assets (ROA) and return on equity (ROE) respectively at 1%'. However, it showed negative relationships with disclosure, interpreted to mean that, corporate governance practice in the Nigerian cspital market is still weak in influencing disclosure practices. In view of the findings, it is recommended that corporate governance code should be reviewed at least once in five years to reflect changes in the business world and practices in developed countries.